DNeX subsidiary iAC aims 50 govt agencies to enroll with MySAGA

By SHAZNI ONG / Graphic By ANIS SHAMSUL

Dagang NeXchange Bhd (DNeX)’s subsidiary Innovation Associates Consulting Sdn Bhd (iAC) aims to attract some 50 government agencies, including local councils, to sign up with its cloud-based accounting system, known as MySaga which is developed based on Standard Accounting System for Government Agencies (SAGA) by the year-end.

iAC CEO Nuraslina Zainal Abidin said the system which was jointly developed between iAC and UPSI Holdings Sdn Bhd was created to meet all the required accounting and auditing standards requirements for the financial reports required either for the agencies or the Treasury. 

“According to data that I have, some 400 state-level agencies and local councils from the states in the country yet to have such a developed accounting system. 

“We are targeting about 50 agencies to sign up with the system by the end of this year and another 100 in the next few years,” she told reporters after the launch of the MySAGA system in Kuala Lumpur earlier today.

Nuraslina added that there are plans to expand the system for the private sector by the first quarter of next year which would fall under the second version of the system.

“The first version currently is for the public sector. A second version of the product will be targeted to small and medium enterprises (SMEs). We are developing it as it is part of our route map towards making sure that there is a locally developed product which can be put forward internationally.  

“The base is already there. Now we just have to accord it to make it suitable for the SMEs. We expect to have it ready some time next year.  Currently, we target the service SMEs first. We would then select other types of SMEs based on the feedback received.  

“We are targeting such SMEs as there are many SMEs yet to have a developed accounting system (especially) on a cloud platform with some of them being on manual,” she said.

Moving forward, Nuraslina said iAC also plans to expand the system to other Asean countries with Indonesia as its first market destination. 

“The target is the same – to the SMEs and the public sector there. We expect it to be ready and launch in the first quarter of next year,” she said.

Nuraslina said there was no cost to develop the system because the system was already available, but declined to elaborate on the cost to convert it into the cloud system. 

“For the government agencies, there is no cost for development because they would only have to pay for the subscription. You pay as you use. This as such government agencies are small and they could not afford to invest some RM2 to RM3 million to develop an accounting system (for instance),” she said.

Nuraslina opined that this could be an option for the government to consider since the government currently is looking at cost efficiency.  

She said agencies can now pay for the services instead of on spending a large expense just to prepare the infrastructure before being able to use an accounting system. 

Seven government agencies are already using the system which includes Universiti Malaysia Sarawak (Unimas), Universiti Sains Islam Malaysia (Usim), National Film Development Corporation Malaysia (Finas) and Tourism Malaysia. 

UPSI Holdings CEO Mohammad Ruslee Ujang who was also present at the event said the company is currently targeting universities to subscribe with the system, with Universiti Kebangsaan Malaysia (UKM) and University Malaysia Sabah among those in line. 

iAC is the contractor and information and communications technology maintenance provider of the integrated government financial and management accounting system at the Accountant General’s Department Malaysia.